Hi, I have a credit card due in 3 days, I was wondering which service could offer me good rewards for doing it?
I recall apps like CRED etc. used to give a lot of benefits but aren’t as good now. So what’s the best reward that is up for grabs currently, if any?
Thanks.
Amazon Pay offers good cash-backs. Its a good alternative. But careful though because very often they credit the amount at least 3-4 days later. Sometimes the amount gets debited only to get refunded back a week later. So you got to track it a bit.
Yes, I have been using Amazon Pay but their current offer is only Rs. 25 (or less) on payment for credit card. Would be nice if others can share their experience with other platforms.
I might end up using CRED this time just to check it out.
Confused…
Do companies give you cashback when you pay your credit card bills? I have heard of using a specific credit card and you get cashback. This process I can fully understand, the issuing credit card company out of the total commission that they get, say, 2.5% out of each transaction, 1% will be given back, the net commission the credit card company will get is 1.5%. This I fully understand.
When a credit card is issued, this is normally done by a Bank, wont the bank insist on opening a SB account from where payment will be collected. When I apply for a loan from a bank, the bank would insist on a SB account from where the interest and loan installment be collected. Is this not the case.
What I do not understand is when payment is due, and when you pay through this intermediary like CRED, you will again get a cash back. How and Why.
I can understand if CRED needs you to pay one week in advance as they will make use of the float money in their account and make money. What is their benefit, to give you a cash back? Do you need to give them access to your bank account or do you remit the funds to their account every time. How do they i.e CRED make money if they give you the cashback.
I fully believe in the fact that there is no free lunch, forget lunch, not even free Tea, then how come these companies are offering cash back while paying your dues. Did some search and one of the result was as follows:-
“CRED makes money by charging a listing fee for products and offers that businesses wish to display to the app users. The financial data collected from users is also made available to financial institutions to pitch additional relevant offers”
Now, I get it, they make use of users data and hence to get this data they need to attract the users. No wonder over time, for existing users, the benefits will be lower as they already would have data.
The risk which I find in doing this are
Apologies as my reply has nothing to do with your original query, but curious to know, how these intermediary make money and the risks in making payments to them.
No, atleast Amazon doesn’t allow you to use anything other than Netbanking or UPI for credit card bills.
No again, I think this is pretty common for banks to issue cards without a Savings account. They collect payments from other modes.
I think they collect your data and sell it, I am not sure about this too. Thanks for bringing it up.
Most of this companies are trying to collect customers. Idea is to give cashback and lure users in using the app. Once they are regular users, they can use it to upsell for other services.
So yes they pay cashback through their own pocket, but hope is you might end up taking loans from them in future or buy some products in future, which will generate revenue.
As such this is similar techniques used by most of UPI apps initially when they gave huge cashbacks to hook users (UPI by itself does not generate any revenue for those apps).
And simply put, credit card users are much more valuable then UPI users (inherently credit card users have more spending power then UPI users). ANd hence the rush by all intermediaries to lure them with cashbacks.
I use BHIM UPI app to pay my credit card bills. I don’t get any cashbacks or anything but at least I’m not selling my data to a third party.
CRED is probably the most intrusive data collecting company around.
I agree, UPI is the way to go if you want privacy.
However CRED only asks consent to access your credit score from various credit agencies for 36 months. And if you only use their website, there isn’t a lot they can collect from you.
Our information is sold by unauthorized 3rd-parties anyway, so make most of it (in moderation).
I remember installing CRED in 2018 and at that time, they wanted access to my emails as well.
CRED doesn’t charge you but it collects your financial data. How many credit cards do you have? How much do you spend monthly? Do you pay in full or do you use revolving credit? Where do you spend your money on? All of this is collected and sold to financial institutions who can then make targeted/ relevant offers to you.
If you’re not paying for the product, you’re the product.
Accessing emails is a very big red flag. It is indeed scary how much they know… at-least they don’t get access to your bank statement 
At the same time, if they are offering good rewards and you don’t really care about that information being shared, it could be beneficial.
They need access to your emails so they can read your statements. Yes its a different story that they can access all your emails and maybe they can do something nefarious with it but I don’t think they will risk it.
Like you said they are already making money selling our information to companies.
That is the price you pay for convenience. I remember always missing me CC payments.
Fortunately axis bank is very lenient they will call you after the due date though but if you pay immediately it won’t reflect on you CIBIL But SBI is not like that. Even when it was their fault(like I paid the same card twice. I thought when I click on the link in my SMS it would automatically open the card that was due and I just blindly clicked next next) they put late payment on my CIBIL.
It was after this I installed Cred otherwise I was avoiding it for a long time.(all friends sending me referrals)
I got more than 3000 rupees in cash back and I think upto 10K in discounts, If I used all their products (like coffee snacks and chocolates) which I don’t cause I eat healthy organic and am a vegan, you can save a lot of money.
I don’t mind being the product I am already the product on Gmail, facebook, instagram, etc.
I use Cred all the time. When you have 9 credit cards its helps you remind you when the payment is due.
Then the cashbacks are great. I have got almost 3200 rupees cashback in 2 years then what I have won as discounts is different the points I used to purchase some products is separate. I don’t use a lot of products I am vegan eat unprocessed foods don’t drink coffee. But for a regular person they can save atleast 10K just on discounts on coffee snacks and accessories.
Hi! I am sending you Rs. 250 towards your credit card bill this month. Sign up on CRED (official sponsor of IPL) using this link and claim the cashback and other rewards when you make your first payment. Hurry, this link of CRED expires in 48 hours.
https://app.cred.club/spQx/da532a8c
You can use this link if you have not to get 250 rupees.
I hope it is ok to post a referal link I have to check out the guidelines before I post this comment.
Just checked the guidelines seems to be no restrictions on referral links or external links in general. So here you go!
The problem is that you’ve got 9 credit cards. Of course, you will miss payments. In your case, using CRED would be okay because late charges on credit cards can be quite steep.
I am using CRED and amazon pay both for chota rewards.
In a way by using both I might be getting some 500 to 700/- overall in one year. Why to loose them. Also in terms of CRED, I will pay 3 to 4 days before last date and in APay, I will pay at least a week before.
That’s true cause I always use them for discounts. Like on Big basket I have a potential discount of 650 rupees. But I don’t purchase that much so every month I end up getting around 450 rupees discount.
In chroma I got 10750 rupees cashback on a phone, earlier got like 3900 cashback on friends purchase of washing machine there was a 3000 rupees instant discount and cashback which was for me 
Its like I save at least 20k per year in all these offers and the rewards points are extra. This is just regular expenses if I make a big purchase like a refrigerator or ac then the amount goes up. Ofcourse one doesn’t buy such things every year.
The best part is just using all these cards for everything like even go out with friends I pay with my card and take cash from them This has got my CIBIL score so high I am being offered personal loan at 12 % interest.
So this means in future if I apply for a house loan I will get a good interest rate.
That would translate to lakhs of saving in interest if the loan period is 10 to 20 years.
Cred makes it easy to pay everything. I just login to cred and see all the cards and just pay it.
Otherwise I had to long into each and every app or keep the notification of 9 apps and keep track of my emails.
here I just keep cred notification on priority and I am good to go.
Then there are these points you accumalate on cred when you pay.
These points give you cash back I have got 3000 plus cashback and I have not won a huge amount yet.
Also I keep playing the jackpots
I have not won a jackpot yet but I keep winning the second and third price which is discount anywhere form 25% to 50%.
Though I don’t use it cause I don’t need them But yeah one problem would be with Cred you might end up buying things you don’t need just because of the discount. I did that once cause but it was as small amount just a dairy.
There are good deals on holidays too if you travel a lot. I hope one day it will come in handy.
Thank you everyone.
@raajsanand Thanks for giving a lot of details about CRED, it sounds worthwhile, I will use your link to sign up
There is a workaround. Create a new email id and set a rule to auto forward just your credit card bills to this new id.
You get best of both the worlds. Your existing emails will remain safe from prying bots and you get to use Cred for your credit card bills.
This is a one time setup , perhaps will take 10 mins. Working great for me since 2+ years now.
Good idea, but CRED did not ask me to give access to my email.
I got about Rs. 250 in cash back for initial sign-up bonus and other random rewards. This was credited directly to my credit card which has no dues.
Should I use this additional credit as soon as possible? I remember reading that overpaying the credit card can sometimes trigger fraud detection systems, anybody have experience with this?
@raajsanand I used your link but it took me to the Apple App Store page, so I signed up directly via CRED’s website, I don’t think it properly registered you as a referrer, sorry.
I could pay my dues via their website but had to install the App on my phone to claim the rewards.
Well you had to install the app that is how it works. There you get a chance to put the referral.
Anyways Glad you got the 250 bucks.
No overpaying your credit card won’t detect any fraud detection system.
I had confirmed if this is a problem when my card had a limit that was less than the amount I wanted to purchase.
So they customer executive said that I could actually over pay my card. That is my limit was 10k and I need to buy something 15k If there was no credit then I could just pay 5k to my card and swipe it for 15k.
Infact I read that overpaying your card by a few rupees actually is good.
earlier I used to round it up to the nearest upper amount.
But with cred I don’t do it. Because after I pay I always get cashback of around 9 rupees atleast and that takes care of it.
There is no need to use this additional credit as soon as possible. Is it in the form of cash credit or is it in the form of gems?
You can redeem the gem for cash but if 250 bucks is not a big deal since you got it for free I would suggest you u keep it as a gem. They run raffles where one ticket cost a gem.
I always do that with the referral points. Better to win an iPhone that take 250 bucks free money.